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CAD extends recent rally to touch best........>

FOREX
FOREX: CAD extends recent rally to touch best levels in weeks
-CAD and NZD sit at the top of G10 space in early Europe, with USD/CAD dropping
below the C$1.2850 mark for the first time since Mar13. The turning of Trump's
ire from NAFTA nations to China is helping lift sentiment toward the Loonie and
what's been perceived as a somewhat dovish statement from Powell yesterday is
holding the greenback lower.
-NZD/USD rejected a move below the 200DMA yesterday to finish positively and the
move's carried through to Thursday as the RBNZ appeared comfortable with the
level of the NZD, lessening the odds of further verbal intervention. The 50DMA
lies just above at $0.7294. This runs counter to the AUD, lower after a poor
jobs report overnight.
-EUR sits mixed amid a poorer-than-expected set of PMI surveys from France,
Germany and the Eurozone and the GBP looks relatively neutral ahead of the
retail sales release at 0930GMT and the BoE rate decision at midday London.
-Weekly jobless claims are due from the US at 1230GMT, US February PMIs at
1345GMT and Japanese CPI at 2350GMT.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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